Celebrating its 10th Anniversary, FXPA Ushers in Officers, Directors

WASHINGTON, DC, February 26, 2024 The Foreign Exchange Professionals Association (FXPA) elected a new slate of Officers and Board of Directors members at its annual meeting on February 20, 2024, marking its 10th anniversary as an organization.

Encompassing buy side, sell side, exchanges, trading platforms, and technology providers, the elections showcase the key tenets of the association, which are to represent the collective interests of professional foreign exchange market participants to advance a sound, liquid, transparent and competitive global currency market to policy makers and the marketplace through education, research and advocacy.

FXPA’s new Chair is Joe Hoffman, CEO of Mesirow Currency Management at Mesirow Financial in Seattle; Vice Chair is Dale Haver, Senior Managing Director, Global Head of FX Sales at State Street Global Markets in Boston; Treasurer is Jeff Roberts, Director, EBS Market Product at CME Group in London; and Lauren Rosborough Watt, Economics & Investment Manager at CalPERS in Sacremento, continues as Secretary. The four officers form FXPA’s Executive Committee, which sets the agenda for the upcoming year.

“The opportunity to serve as Chair of the FXPA is truly an honor, and I am committed to upholding the exceptional work of the FXPA,” affirms Joe Hoffman, CEO of Mesirow Currency Management. “Given the recent market fluctuations due to global tensions, inflationary pressures, shifts in monetary policy, as well as the outcome of the US election and the risk of recession, brings the potential for more FX volatility in 2024. I am dedicated to expanding the FXPA’s membership and I’m excited about collaborating with all members to echo the unified voice of the FX market.”

During 2023, FXPA launched three new working groups. The T+1 Settlement WG, working together with the Buy Side WG, produced a guidance paper for the buy side on preparations for the transition in May 2024. The Buy Side WG is also focussed on issues pertaining to transparency. The Trading Platforms WG is developing a white paper that focuses on FX Global Code compliance on trading venues, among other topics. Additional working groups include the Digital Assets WG and Off-Market Pricing WG.

FXPA also elected a slate of candidates to the Board, which is now comprised of:

Martin Knudsen, Senior Product Manager, FX Electronic Trading, Bloomberg
Lauren Rosborough Watt, Economics & Investment Manager, CalPERS
Scot Halvorsen, Assistant General Counsel, Cboe Global Markets
Jeff Roberts, Director, EBS Market Product, CME Group
Taylor Haberstock, Associate Trader, Global Income, Eaton Vance Management
Patrick Basilice, Chief Compliance Officer, Euronext US Inc, Euronext
Cathrine Poulton, Managing Director, Global Buyside Head of GlobalLink FX Product Sales, GlobalLink
Richard Turner, Senior Trader, Insight Investment
Joseph Hoffman, CEO, Mesirow Currency Management, Mesirow Financial
Christopher Matsko, Head of FX Trading Services, Portware
Dale Haver, Senior Managing Director, State Street Global Markets

The FXPA is a unique industry body that represents a diverse cross-section of the FX market to advance its mission to collectively represent the interests of professional FX industry participants. Since 2014, the FXPA has established itself as a respected industry thought-leader and resource for the industry, media, and global policymakers.

-ENDS-

The Foreign Exchange Professionals Association (“FXPA”) is a Washington-based organization that represents the collective interests of professional foreign exchange market participants. The group engages with key regulators and policymakers through education, research, and advocacy, with the goal of advancing a sound, liquid, transparent and competitive global currency market.  See more at www.fxpa.org

FXPA Welcomes Mesirow as Newest Member

The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of Mesirow as the newest member to the industry association. FXPA represents the collective interests of the institutional FX industry to advance a sound, liquid, transparent and competitive global currency market to policymakers and the marketplace through education, research and advocacy.

Mesirow Currency Management just celebrated a record year – surpassing $130 billion in assets under management as of December 31, 2022.[1]

Joe Hoffman CFA, CEO, Mesirow Currency Management, says: “We look forward to working with the broad spectrum of FX market participants that comprise the membership of FXPA. Our deep commitment to advancing best practices align well with FXPA’s goals of championing a robust FX market for all industry participants.”

“We are thrilled to have Mesirow join the membership of FXPA,” adds Acting Chair, Chris Leonard-Appleton, Head of FX Risk & Regulation, LSEG. “We are excited to welcome Mesirow’s voice to our association.”

The FXPA is the only industry body that represents a diverse cross-section of the institutional FX marketplace. Since 2014, the FXPA has established itself as a respected industry thought leader and resource for global policymakers.

The Foreign Exchange Professionals Association (“FXPA”) is a Washington-based organization that represents the collective interests of professional foreign exchange industry participants.  The group is designed to engage key regulators and policymakers through education, research, and advocacy, with the goal of advancing a sound, liquid, transparent and competitive global currency market.  See more at www.fxpa.org

[1] Data as of 12.31.2022 unless otherwise noted. Currency assets under management includes AUM associated with (i) active and passive currency risk management products $130.20 billion, (ii) non-fx overlay strategies such as equitization and beta overlays $671.03 million, and (iii) alpha strategies $32,482,451. In all such cases, AUM is calculated based on notional value of currency investments. Additionally, AUM for alpha strategies is adjusted because clients can select a volatility target (generally between 2% and 12% annualized), which is normalized to 2% in order to create a consistent depiction of alpha strategy AUM. This results in a “scaled” AUM, which is higher than the actual aggregate notional value of all alpha strategy portfolios if clients have selected a volatility target higher than 2%. As of 12.31.2022, the “unscaled” AUM for alpha strategies was $5,852,78